Yearly Archives: 2024
Peninsula Charts Course to Decarbonize Marine Fuel
Peninsula aims to scale up LNG and biofuel supplies by 2030 before transitioning to sustainable fuels like methanol.
Biofuels and LNG are expected...
OPEC+ Extends Production Cuts: What Lies Ahead for 2025?
OPEC+ extended production cuts until April 2025 amid well-supplied market fundamentals.
Geopolitical shifts and non-OPEC supply growth may affect the oil landscape in...
Freightos Index: Global Freight Rates See 9% Rise in November
FBX global rates rose by 9% to $3,590/FEU in November, a 178% increase from 2019.
Blank sailings, extended lead times, GRIs, and Lunar...
GSL Bolsters Fleet with $274m Reefer Purchase
GSL is acquiring four 9,115 TEU container ships.
The ships come with long-term charter contracts, ensuring stable revenue.
GSL aims to strengthen its...
LR And Tanker Markets Show Mixed Trends With MR Gains And VLCC Decline
LR2 rates in MEG stalled, while MR rates surged in the MEG and USG. VLCC and Suezmax rates declined, with Aframax markets seeing significant...
Capesize Faces Struggles, While Panamax And Smaller Vessels Show Mixed Trends
Capesize market declines amid oversupply, with some resistance in the Atlantic. Panamax sees slight improvement, while Ultramax, Supramax, and Handysize markets struggle with low...
Updated Information on Piracy Cases Off the Coast of Somalia
The EU Naval Force ATALANTA has issued a warning about a recent rise in piracy incidents off the Somali coast.
Ships must maintain...
Regional Carriers Steam In To Add More Services To lucrative India-Red Sea Trade
The growing India-Red Sea trade continues to see new service additions, as ocean carriers adjust their tonnage deployments to the more-lucrative lane, reports The...
FMC Investigates Restrictive Port Practices Of Spain
The Federal Maritime Commission (FMC) initiated an investigation into regulations or practices by the Government of Spain which appear to bar certain vessels, including...
Box Lines Scramble To Secure New Containership Orders
The containership orderbook ratio now stands at just over 4m teu, or 27% of the active fleet, after a rush of new commissions in...